"We all need to cross over when it comes to development in the Philippines,” he added, emphasizing a "walang iwanan” economy (no-man-left-behind economy) that bridges businesses and communities to each other. (READ: Social Business Summit: Building sustainable communities)

Aquino noted that the country had its “best in terms of economy” in the last 5 years, but poverty incidence did not decrease during the same period.

"Working with businesses is not enough. Working in communities is also not enough. We need to bridge,” he added. Aquino said the disconnect can be bridged by social entrepreneurship.

Last July, President Benigno Aquino III approved Republic Act 10644 or the Go Negosyo Act which encourages the creation of micro, small, and medium enterprises (MSMEs) which will facilitate local job creation, production, and trade in the country.

"The idea for the Go Negosyo law is to create infrastructure [that will] make journey of entrepreneurs easy,” the senator explained.

He added: "If they need market linkage, we can help send their products. In that way we are able to connect. By being able to connect them we’re able to bring forth development."